Press Release
Sportradar (Nasdaq: SRAD) is going to shock analysts in Q2 off the back of UEFA EURO 2024, ATP and Cricket: $22.91 Price Target!
By Gerry Rodriguez
Sportradar (Nasdaq: SRAD) is set for a strong Q2, fueled by major sporting events like UEFA EURO 2024 and the ATP, with expected revenue surpassing Q1’s €266 million. The company’s innovative products, revenue share model, and key hires in technology are driving growth, leading analysts to project a target stock price of $22.91, well above the current $11.07. Sportradar is poised for long-term success in the expanding sports betting market.
Key Insights
- Increased interest and solid margins across EURO 2024 and Indian Premier League key to underestimated profits for SRAD with their revenue share model
- Huge volume of ATP matches and new products to power revenues versus 2023
- Robust business model to take advantage of tailwinds in Brazil
- Two key hires are expected to have immediate impact
- DCF model shows $22.91 target stock price vs. current $11.07
Revenue Soaring
Every shareholder of large bookmakers such as DraftKings (Nasdaq: DKNG) knows to look out for seasonal revenues relating to the Superbowl or Stanley Cup Finals. But SRAD – which delivered €266m 2024 Q1 revenues and “Betting Technology & Solutions” 2024 Q1 revenue of €219m – is in fact tied to the growth of sports betting globally.
SRAD Q1 2024 Earnings Presentation: https://investors.sportradar.com
SRAD Q1 2024 Earnings Presentation: https://investors.sportradar.com
There was very encouraging news for investors in Q1 with 28% YoY growth across the business and an eye-opening 35% YoY increase for the Betting Technology & Solutions vertical. This is somewhat close to DKNG’s 53% as per their Q1 2024 earnings. The latter is able to increase off the back of expensive customer acquisition and marketing which led to a repeated net loss in Q1 of $143m. This is in stark comparison to SRAD’s 19% Adjusted EBITDA margin and a 2023 net profit margin of 3% or €7m, and €275 million cash and cash equivalents / €220 million undrawn credit facility, compared to €460 million in Q1 2023.
Having established Q1 was a rip-roaring success, what is expected in Q2?
Revenue in the second quarter of 2023 increased 22% to €216.4 million compared with the second quarter of 2022 and above Q1’s figure of €208m. Therefore, we can expect 2024’s Q2 to be slightly higher than Q1’s €266m. But, there are a number of sporting events which could drive these revenues higher:
- EURO 2024 – Darren Small, SVP of Managed Trading Services said the following in an interview after the tournament finished:
“Overall, the tournament was good for us. We saw a very low-scoring tournament, particularly from some of the most favoured teams. I don’t even think France managed to average a whole goal out of the games. I think they averaged around 0.67 goals a game. The same thing with Cristiano Ronaldo not scoring many goals in open play. In fact, from a betting perspective, they probably were the two of the heaviest-backed teams and individual top goal scorers in the competition.”
These figures may not have been taken into account by investors as SRAD’s Managed Trading Services are overlooked in favour of their traditional subscription service data products.
- Indian Premier League (cricket) & Cricket World Cup – there is reason to believe SRAD over-performed versus expectations.
LinkedIn: Link
In addition to the Indian Premier League, the Cricket World Cup featured an exciting contest and whilst favourites India prevailed, there is sure to have been betting profits made.
- ATP – SRAD’s jewel in the crown is going to bring new revenue versus 2023, having won the rights from competitor IMG Arena late last year. What’s even more encouraging is the products which have been built to complement the comprehensive betting coverage. In March 2024, SRAD launched 4Sight. According to SRAD:
“In essence, the technology overlays ultra-fast data into live streams, delivering a continuous flow of engaging statistics that appear in real time, from serve speed and ball bounces, to total shots in each rally.”
- WNBA – and what about superstar Caitlin Clark, driving incremental revenues via SRAD’s NBA partnership? How could we forget this 10 year partnership and even embedding betting solutions within NBA’s League Pass.
With Q2 revenues likely secured off the back of significant rights deals and good performance in marquee tournaments, let us turn our attention to personnel.
Wise Heads
In May, SRAD announced two significant additions to its roster – CFO Craig Felenstein and Chief Technology and Artificial Intelligence Office Behshad Behzadi.
SRAD Q1 2024 Earnings Presentation: https://investors.sportradar.com
These hires signal both a maturity and an investment in the future. Both are expected to create immediate value in terms of SRAD’s business model and galvanising the company to think BIG.
This comes off the back of restructuring in January:
“By centralizing our key business functions, we will foster greater collaboration and faster decision making, enabling us to drive further operating efficiencies and increased innovation across our business,” Sportradar CEO Carsten Koerl said in a statement. “These decisive steps will enable us to better serve our clients and partners as well as capture the significant market opportunities ahead of us.”
With SRAD relying on both its People, sporting tailwinds, its technology and a nod to AI, the future is certainly bright.
DCF Model
Based on all available information, we are able to build a DCF model, reflecting the historical and continued growth in revenue and EBITDA for SRAD.
SRAD DCF model – EPS by analyst DC
SRAD DCF model – stock price output by analyst DC
For Sportradar, net margins are rising quickly from a low point and could benefit from a number of factors, not least of which is the current summer’s schedule of important sporting events. Given the rapid expansion of the US betting market, the firm is especially well-positioned to take a larger portion of this market. Sportradar’s leading position in the rapidly expanding sports betting business makes us think that the management team’s expectations of double-digit revenue CAGR through the end of the decade—driven by market expansion, new markets, new products, and improved product penetration—are realistic. In addition, we think that when Sportradar grows in the US, EBITDA margins will probably rise from 20% to 25%.
All things considered, we think Sportradar provides investors with long-term exposure to the quickly expanding sports betting market with a pure-play potential through a successful B2B operating model that is mostly subscription-based (around 76% of revenue). With a 20% two-year adjusted EBITDA CAGR, a robust balance sheet (with $240 million in cash versus debt and 98% equity as a percentage of total capital), $200 million in planned share repurchases for 2024, increased operating leverage in subsequent years, and a fair valuation in light of its growth prospects and comparable companies, the company has one of the strongest growth profiles in its industry.
Conclusion
We have a stock that is undervalued and misunderstood. We predict a lucrative Q2 driven by SRAD’s betting revenue share sales model, restructuring of the business in Q1 and a very resistant business with a significant moat for future years.
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About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Uncover The Secrets Of The Eyes From Above: Jabari Lamb Invites Readers On An Inspiring Journey Of Triumph, Survival, And Self-Discovery
Ride on a journey of power, survival, and the unbreakable human spirit in the new novel by Jabari Lamb titled “The Eyes From Above.” A Nationwide Release will thereafter tell the story of family, perseverance, and reclaiming one’s identity in a world fraught with danger and hostility.
Track the life of Connie, fighting his way through dangerous waters to uncover long-buried truths about his family’s past, as he evades sinister forces who are determined to stop him at every step. In Charleston, South Carolina, this is the story peeling historical trauma, mythical elements, and an African sense of roots into a bewitching tapestry of history, fantasy, and raw emotion.
There’s that richness of culture and heritage alive through the eyes of his Gullah Geechee perspective: all the trials and triumphs of the African diaspora. He spent time abroad in South Africa, exploring other pockets of the African continent; he weaves a very personal, detailed narrative of African traditions and powerful ancestral connections that should speak to readers from every part of this world.
For high drama or soul-stirring histories, be sure to read “The Eyes from Above” to question what truth is and what is in memory. This book is available in bookstores all over the country and in stores online.
About the Author
A bold, new voice in literature, Jabari Lamb blends history and mythology and his Gullah Geechee heritage in stories hard to forget. This impressive young writer’s novel, The Eyes From Above, explores African roots and displacement based on his journey learning about the Gullah Geechee people, the history of African-Americans, and his trip to South Africa. A voice unique unto his own, Jabari extends the invitation to the reader to consider the fluidity of memory and identity and, indeed, the truth. The Eyes From Above makes its wonderful debut into the literary world.
Media Contact:
Contact Person: Jabari Lamb
Email: Jabarilamb1847@gmail.com
Phone: 770-580-3190
Website: Jabarilamb.com
City: Atlanta
State: Georgia
Country: United States
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
United States, 17th Oct 2024, – Yijin Hardware, a key player in precision CNC machining, has announced the global expansion of its sheet metal fabrication services. This development is aimed at supporting industries worldwide with high-quality, custom-engineered metal components. By extending services to new markets, Yijin Hardware strengthens its position as a reliable manufacturing partner for sectors that require precise, durable parts, such as automotive, aerospace, and electronics.
Yijin Hardware has a long history of providing precision-engineered components, and its expansion into international markets reflects the company’s response to rising demand for reliable sheet metal fabrication services. The new offerings will include laser cutting, metal bending, welding, and a variety of other fabrication processes, designed to accommodate a wide range of industrial applications.
“Precision and quality have always been at the heart of Yijin Hardware’s operations,” said Gavin Yi, CEO of Yijin Hardware. “The expansion of sheet metal fabrication services is a natural progression in the company’s growth, enabling access to more industries worldwide that require high-performance metal components for their operations.”
The sheet metal fabrication sector has seen increasing demand as industries move towards more complex and custom-engineered solutions. Yijin Hardware’s global expansion is positioned to meet these growing needs by offering scalable services that are capable of handling both small-scale production and larger manufacturing runs. The company’s advanced facilities are equipped with the latest machinery, ensuring that each part meets precise specifications and high-quality standards.
Yijin Hardware has also invested heavily in upgrading its production infrastructure to support the increased demand from international clients. Enhancements in laser cutting, welding, and assembly operations have been key factors in enabling the company to offer a more diverse set of services globally. The ability to handle custom and high-volume orders without compromising on quality is a cornerstone of Yijin Hardware’s service offerings.
“Looking ahead, Yijin Hardware is committed to further advancing its manufacturing capabilities,” Gavin Yi added. “There are plans to introduce more cutting-edge technologies that will enhance both CNC machining and sheet metal fabrication services. These advancements will ensure the company remains well-positioned to address the evolving needs of industries in the future.”
Yijin Hardware’s expanded services will cater to industries with a need for complex, high-precision components, including automotive parts, aerospace structures, and electronic enclosures. With a focus on maintaining strict quality control throughout the production process, the company aims to provide solutions that meet exacting industry standards.
As part of its expansion strategy, Yijin Hardware continues to emphasize innovation and efficiency. These principles are expected to guide the company’s future developments as it explores new manufacturing technologies and methods. The expansion also supports the company’s vision of being a global leader in precision engineering.
For further information about sheet metal fabrication services, please contact Yijin Hardware at +1 626 263 5841 or via email at yijing@yijinsolution.com.
Media Contact
Organization: Yijin Hardware
Contact
Person: Gavin Yi
Website:
http://yijinsolution.com/
Email:
yijing@yijinsolution.com
Country:United States
The post Yijin Hardware Delivers High-Quality Sheet Metal Fabrication Services Worldwide appeared first on
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About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
United States, 17th Oct 2024, – Yijin Hardware, a well-established provider of custom CNC machining services, has announced its expansion into global markets. The company, recognized for its precision manufacturing capabilities, aims to support international businesses in industries such as aerospace, automotive, electronics, and medical with tailored CNC solutions. This move comes as industries worldwide increasingly require high-quality, custom-manufactured components to meet modern production needs.
Yijin Hardware’s decision to extend its services beyond China reflects its commitment to addressing the needs of a broader range of industries. With years of experience in CNC machining, the company has developed a reputation for delivering reliable and precise parts to a diverse set of clients. The expansion will provide industries worldwide with access to Yijin Hardware’s capabilities, backed by advanced technology and stringent quality control.
Gavin Yi, CEO of Yijin Hardware, commented on the expansion: “This move into international markets represents a significant milestone. Yijin Hardware has always emphasized precision and reliability, and this expansion allows those same standards to be brought to clients around the world. Whether the project involves a small batch of components or a large production run, the company is prepared to meet the exacting standards required by global industries.”
Operating from its facilities in Shenzhen, Yijin Hardware manages the full lifecycle of production, from initial design to final inspection. This comprehensive approach ensures that each project is carefully monitored to meet specific client requirements. Yijin Hardware’s ability to offer customized machining solutions is seen as a key factor in its growth, particularly as companies increasingly seek specialized components for complex applications.
Previously focused primarily on the domestic market in China, Yijin Hardware’s expansion aims to deliver the same level of precision and service to international clients. By positioning itself as a global CNC machining provider, the company plans to strengthen relationships with existing partners while establishing new connections in other regions.
This global expansion comes at a time when demand for CNC machining services is rising due to the increasing complexity of product designs and the need for enhanced precision in manufacturing. As industries continue to evolve, CNC machining remains crucial to ensuring that parts meet exact specifications. Yijin Hardware has embraced this role through continuous investment in advanced equipment and machining techniques.
Looking ahead, Yijin Hardware is also focused on the future of manufacturing and its impact on sustainability. The company plans to explore new methods that reduce material waste and promote more efficient production processes. According to Gavin Yi, “As the company expands globally, attention is focused not only on immediate goals but also on contributing to long-term sustainable manufacturing. CNC machining plays a critical role in reducing waste and improving production efficiency. Yijin Hardware is committed to finding ways to make processes more environmentally friendly, to become a leader in both precision and sustainability.”
Yijin Hardware’s entry into global markets signals a broader shift in its strategy, focusing on serving a more diverse range of industries with its expertise in CNC machining. By offering international clients access to its advanced manufacturing solutions, the company aims to become a trusted partner for businesses looking to streamline production with high-quality, custom-manufactured parts.
For more information about Yijin Hardware’s global CNC machining China, inquiries can be directed via phone at +1 626 263 5841 or by email at yijing@yijinsolution.com.
Media Contact
Organization: Yijin Hardware
Contact
Person: Gavin Yi
Website:
http://yijinsolution.com/
Email:
yijing@yijinsolution.com
Contact Number: 16262635841
Country:United States
The post Yijin Hardware Offers Global CNC Machining Services from China appeared first on
Brand News 24.
It is provided by a third-party content
provider. Brand News 24 makes no
warranties or representations in connection with it.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Step into a World of Strength and Survival with ‘The Eyes From Above’
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